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AGREEMENT FOR THE DEDICATION OF RIGHT-OF-WAY <br />THIS AGREEMENT is made and entered into this day of , <br />and between INDIAN RIVER COUNTY, FLORIDA, a political subdivision of the <br />Florida, 1801 27`h Street, Vero Beach, FL 32960 ("County") and PROVIDENCE 1 <br />VERO BEACH LLC, a Florida limited liability company, 660 Reef Road, Vero B <br />32963 ("Developer") <br />WITNESSETH: <br />WHEREAS, Developer proposes to develop a "Planned Development/T <br />Neighborhood Design" (PD/TND) Community located between 49`" Street and 53`d Str, <br />and West of 58'h Avenue in Indian River County, Florida, to be known as Providence <br />include a mix of residential, commercial, hotel, recreational, and other uses on real <br />which is adjacent to and south of 53`d Street, west of 58`h Avenue, more particularly de: <br />follows: <br />;014, by <br />State of <br />OINTE <br />ach, FL <br />tditional <br />;t, along <br />Dinte,to <br />)roperty <br />ribed as <br />SEE EXHIBIT "A" ATTACHED HERETO AND MADE A PART HEREOF. <br />WHEREAS, Developer has acquired a second parcel of property, adjacent to an north of <br />53`d Street, and west of 58`h Avenue, more particularly described as follows: <br />SEE EXHIBIT "B" ATTACHED HERETO AND MADE A PART <br />WHEREAS, the County and the Developer share mutual goals and have determined that <br />they can assist each other with respect to right-of-way acquisition and the construction and <br />expansion of 53`d Street west of 58`h Avenue; and <br />WHEREAS, the Developer desires to dedicate to the County a portion of the property <br />which is described on Exhibit "B" hereto for right-of-way purposes, and the Countyesires to <br />accept this dedication, according to the terms and conditions stated in this Agreement; c! <br />NOW, THEREFORE, in consideration of the mutual terms, conditions, prom ses, and <br />covenants stated herein, and other good and valuable consideration, the receipt and sufficiency of <br />which is hereby acknowledged, the County and the Developer hereby agree as follows: <br />Recitals: The foregoing recitals are incorporated as if fully restated <br />2. In conjunction with the Developer's development of Providence Point , and in <br />time to coincide with the Developer's construction of the four lane extension of 53`d Street west <br />of 58`h Avenue, for which construction the County has agreed to share expenses pursuant to a <br />separate Developer's Agreement, the Developer shall dedicate by right-of-way deed free and <br />clear of all liens and encumbrances, to the County, that property which is adjace t to the <br />proposed 53`d Street extension, and which is described on Exhibit "C", which is attach d to and <br />made a part hereof. <br />73 <br />